Just finished testing it with on text file. It has a number of nice features but also an issue. I tested it by doing a simple, no frills or options compression of a simple log (text) file. No issues compressing with iZip but unfortunately the default MOS tool (Archive Utility) could not expand it, but instead generated an error. I had to use iZip or UnArchiver to expand it. This could be an issue when you are sharing zipped files with someone does not have such a 3rd party option, but is just using the MOS default option for expansion.
Another possible issue: Right now the utility is free and no plans are indicated for that to change. But should it transform into a fee based app, you might somewhere down the road have to effectively pay a ransom to uncompress your files, especially if you utilize some of the advanced optional features such as password protection and advanced compression.